Open Innovation Management: Combine Knowledge From Internal & External Sources (60sec on Innovation)

Open Innovation Management is all about making the most of internal & external resources. Our Head of Open Innovation, Dr. Oana Maria Pop, explains how to apply the principles of innovation to success.

Henry Chesbrough first talked about "Open Innovation" in his 2003 book "Open Innovation: The New Imperative for Creating and Profiting from Technology". Open Innovation has since developed to become its own science and has become a well-established practice within organisations.

There are 3 ways to implement Open Innovation principles in an organisation. The first one is called "outside-in". This involves activities like venturing, scouting or funding university research programs. Next is the "inside-out" method, where companies donate or licence their IP or create spin-offs all together. Lastly, Open Innovation programs can also be run in a coupled form, meaning a company forms strategic alliances, networks or ecosystems.

#openinnovation #openmind #cooperation

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Find additional information by following the links below:
Blog - https://blog.hypeinnovation.com/open-...
Blog - https://blog.hypeinnovation.com/how-l...
Case study - https://www.hypeinnovation.com/client...
https://www.hypeinnovation.com/en/sol...

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